GOP wants budget; Schumer warns they will get one

WASHINGTON -- Democrats are looking to make new revenue part of the Senate's first budget in almost four years.

That budget will be released soon after the start of President Barack Obama's second term. Obama has pushed for a "balanced approach" to solving the nation's financial woes, including more tax revenue.

Republicans for years have complained bitterly that Senate Democrats last produced a comprehensive budget in 2009 and say that, if Obama and fellow Democrats want to borrow more money, they'll have to outline a spending plan.

Senate Democrats announced Sunday that they will oblige and produce a budget - but warned it will include higher taxes that Republicans oppose.